Debt, Deficits and the Fiscal Framework

Jonathan Portes | Posted 12.11.2012 | UK Politics
Jonathan Portes

It has been widely reported that the government is considering abandoning the second half of its fiscal mandate - that debt should be falling as a percentage of GDP in 2015-16. My view is that the short term economic impacts of this are limited. It's not really news; NIESR has been saying for well over a year that this target was unlikely to be met.